Financial

Santander Consumer USA Holdings recently announced that Chrysler Capital will serve as the title sponsor for the Chrysler Minority Dealers Association (CMDA). The five-year annual sponsorship will include several initiatives aimed at outlining and supporting minority dealer trends and building a conduit for the next generation of minority dealers. Bruce Jackson, SC president of Chrysler Capital and auto relationships, […] [Read More]

With dealer inventories tight, it’s getting more challenging for consumers to find the vehicle they want. Swapalease.com shared its second quarter Auto Lease Trends Report on Tuesday, illustrating how the situation is unfolding in that industry segment. Among the key trends Swapalease.com identified in its second-quarter lease data, analysts highlighted: • Tesla searches are up […] [Read More]

While TrueCar analysts assessed what they believe to be the best new-vehicle leasing offers this month, Swapalease.com reported the approval rate compiled last month in connection with consumers wanting to take over a lease. Site officials reported this week that the approval rate in June of vehicle lease credit applicants using Swapalease came in at 67.6%. […] [Read More]

Fitch Ratings spotted more ramifications associated with dealerships in connection with the inventory pinch of both new and used vehicles. With rising sales and soft volume at auction and OEM factories, Fitch Ratings said on Monday that accelerated dealer auto inventory turnover has resulted in insufficient collateral available for dealer floorplan (DFP) asset-backed securities (ABS) […] [Read More]

Swapalease.com shared more evidence that the auto-finance market appears to be stable. On Wednesday, site officials reported vehicle lease credit applicants on Swapalease.com registered a 69.9% approval rate in May. While the approval rate marked a small decrease from the 70.7% approval rate in April, it’s also higher than the same month last year when […] [Read More]

Along with delving into some data showing average credit scores, Experian’s Q1 2021 State of the Automotive Finance Market report also revealed the top 10 new models leased during the first quarter as well as the top 10 states where leasing originated. Perhaps one day coming back into the market as potential certified pre-owned units, Experian […] [Read More]

While not divulging the specific operator, First Business Bank on Monday announced the closing of a $6 million inventory floorplan line of credit for an independent dealer through its floorplan financing group. However, along with acknowledging the store is in Illinois Jeff Widholm, managing director of floorplan financing at First Business Specialty Finance, a subsidiary […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. The pandemic impacted much of the automotive space, from how vehicles are retailed to the ways consumers are securing financing. What hasn’t changed, however, is the importance of a dealership’s F&I department, a store segment that […] [Read More]

RVI Group has appointed David Klanica to the board of directors of R.V.I. Guaranty Co. Ltd. and R.V.I. America Insurance Co. Klanica joined RVI in 2007 and has managed financial reporting, securitizations, financial risk, business combinations and portfolio purchases, technical accounting research and training. Previously, he was chief financial officer for Pitney Bowes Capital Services, […] [Read More]

Sister websites Swapalease.com and Wantalease.com recently shared their latest data connected with users getting approved for contract transfers, as well as how monthly payments are trending. Beginning first with what Swapalease reported, site officials said applicants for lease credit registered an approval rate of 72.9% in March, representing a slight increase from the 70.8% approval mark […] [Read More]